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20121129
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Search Results 0 to 22 of about 23 (some duplicates have been removed)
MSNBC
Nov 27, 2012 8:00am PST
puts forward his plan. how is he going to close the other part of that deficit? you know, his proposal right now, the most he can say would raise would be about $68 billion when our deficit last year was $90 billion. what is the president's plan for closing the additional additional $1 trillion worth of deficit? i think that's incumbent on the president to put forward his plan. >> from your standpoint alone, there's no way you see fit in the coming 35 days that you would break that pledge with glove norquist. >> well, thomas, let's use a couple numbers here. even with this measly economic growth we've seen the last three years, revenue at the federal government has increased $344 billion per year. if we just return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> tha
FOX Business
Nov 26, 2012 11:00am EST
box and reduce the deficit, they spent it. he has no savings in his budget. he wants to count savings because he is not in iraq anymore. they threw him out. that is why he is not in iraq anymore. connell: we will obviously come back to this over and over again. grover norquist, thank you. dagen: we will stay on the topic of warren buffett and taxes. should the cut off the $500,000 not $250,000 as the president wants. would that ease some of the burden and pain of higher taxes? >> on one level it would, of course. raising that threshold from $250,000 to $500,000. the buffet idea maybe release a little bit of pain, but does nothing to address the extortions that he is talking about. huge distortions. 160,000 pages of distortions in the tax code. you were talking about a tiny, tiny improvement. i will take it, sure. we are getting distracted on this one. dagen: connell was talking about a minimum tax on the wealthy. he starts out $1 billion a year. 30%. a good idea in the abstract? then he starts talking about his brother in. those are multi billionaires, dude. >> i mean, i think these a
CNN
Nov 28, 2012 11:00am PST
as republicans have been trying to do since 2005 when we passed the deficit reduction act. >> let me jump to that, because part of the intriguing thing here is the fact that congressman cole, he is doing something that the president said, that post election news conference and that is, you know, extend the tax cut for everyone, but the wealthy, and then, you know, after you get that done, and i don't know if you would be going along with that, but nevertheless, you know, go ahead, talk about this long-term deal that would involve possible cuts as i think you're getting at, you know, cuts to programs like medicare. is that something we could see taking shape here? >> you're talking about getting rid of redundancies. great example, 342 economic development programs that are in the federal government system. let's start cleaning up these redundancies. let's do some of these across the board cuts in discretionary spending. let's make certain that medicare and social security, which are trust funds, not entitlements, they're trust funds, that they meet their obligation to our seniors and near seniors.
FOX News
Nov 28, 2012 10:00am PST
debtor deficit spending, or where spending cuts of any type might come or how we are going to address the larger issue: we all know that tax hikes on the rich ain't going to get it down. progressive groups reportedly held a private meeting with senior obama administration white house officials. according to the "washington post" the groups were told not to worry about any entitlement reforms or big budget cuts. the so-called safety net programs according to them are not going to be touched and the progressive groups walked away feeling very happy. the report say the white house feels it does not need to compromise, period and is willing to let the big tax hike happen on everybody. the big tax hike is what everybody will face not just the rich or the middle class. they think they'll be in a better position to negotiate with the g.o.p. after that happens. chris stirewalt joins me, host of power play on foxnews.com. >> i was a little frightened, i thought something i, really bad was happening instead of the standard badness. megyn: that is terrifying. [laughter] back down to business, t
MSNBC
Nov 27, 2012 11:00am PST
to reduce the long-term deficit, that requires a combination of cuts. it also means asking high income individuals to pay a little bit more. that was a key issue in the campaign. all the exit polls show the american people are on the president's side. the only people who appear to be totally deaf to that are some of the congressional leaders in the republican house and senate. so i think it's important that the president get out and talk to the american people. this is part of the national conversation. this is a very important moment, and so it's important even as the president talks to congressional leaders and he had them down to the white house and continues to be in contact with them, he should engage the american public in this very important national conversation. >> let me ask you, you have a couple of senate republicans who have come out again grover norquist and any kind of notion of a pledge or being held to a lobbyist as opposed to the american people. on the left you have some progressives who are concerned that too many concessions will be made with social security, medic
MSNBC
Nov 28, 2012 8:00am PST
and your party come to this debate with big deficit because you and president bush and dick cheney lied this country into war and you had a lot of lies on foreign policy about wmds. president bush even said once in may 2003 that we found the wmds in iraq. dick cheney and condoleezza rice talked about links to al qaeda in iraq. you've never made up for those huge, serious, significant lies in the arena of foreign policy. and now you're picking apart, you know, basically the very early and ultimately not misleading with regard to foreign policy decisions, statements that this diplomat made. >> one thing we're learning right now the meeting with ambassador rice and senator corker is happening as we speak so a little earlier than that noontime appointment. but the one thing we heard also from senator barrasso in the last hour was john considerry's name floated out and it would be easier for him to sail through. you had the opportunity to work with john kerry before. >> sure. >> when we hear about this, is that really what the game, as joy-ann said, this machiavellian game, basically let's g
CBS
Nov 26, 2012 12:00pm PST
loop holes and limiting deductions is not enough to make a dent in the nation's $16 trillion deficit. >> you've got to raise additional revenues, including tax rates on the wealthy. those have to go up. they have to go up. >> reporter: but many republicans believe the best way to close the gap is reform entitlement programs like social security and medicare. democrats aren't on board yet. >> my concern about raising that medicare retirement age is there will be gaps in coverage or coverage that's way too expensive for seniors to purchase. >> reporter: and with the fiscal cliff looming, white house economists are warning shoppers concerned about a tax increase pay not spend as much this holiday season. danielle -- nottingham, cbs news. >>> investors are worried the strong start to the holiday shopping season may not last. right now, let's take a look at the dow. it's down nearly 60 points at this hour. >>> something that might help those numbers on wall street, cyber monday. it's expected to be the biggest online shopping day of the year. one data tracking firm predicts online sales
FOX News
Nov 26, 2012 6:00am PST
is an integral part of deficit reduction. yes, from my side of the table bring entitlement reform into the conversation. social security, set aside. doesn't add to the deficit but when it comes to medicare and medicaid, protect the integrity of the program but give it solvency for more and more years. martha: alabama republican jeff sessions is the ranking member on the senate budget committee. senator sessions good morning. good to have you here today. >> martha, thank you. martha: a lot of talk this morning after these sunday shows and watching both sides talk about this fiscal cliff about who seems to be moving and in what direction. what are you hearing, what are you hearing from lindsey graham who says, quote he is willing to break that pledge on taxes under certain circumstances? what are they really saying? >> i'm not sure what they're saying. there's a lot of this talk going on. i don't know who is speaking for the republican party. the house of representatives where you have a substantial republican majority but the truth is that this country does not need to go through t
FOX News
Nov 27, 2012 8:00am PST
and we'll have another trillion dollar deficit according to cbo moving into next year and we can't afford anymore like that. if we take what obama would be willing to support which is increase in the age of, again recipients and other type of reforms like that, then we have a legitimate negotiation as we move into it. but when you have liberal members of the democratic party stepping forward and saying before the process begins they will not accept any type of entitlement reform, it makes it untenable process from the beginning. jon: is it no entitlement reform, simon, or is it perhaps entitlement reform when it comes to medicare? i haven't heard anybody talk about reforming social security on democratic side? >> that is good question and i think, look i think we're in the early stages, chris, of this whole debate. eric cantor went on morning joe said and won't raise taxes on anybody under any circumstance which would you argue is stopping negotiations. both sides are laying out positions right now. there are negotiations going on. clearly the fiscal cliff is scaring everybody into action
MSNBC
Nov 28, 2012 4:00pm PST
our bond rating to drop is the fact we're running unsustainable deficits and not dealing with our problem. that's exactly what the -- what the speaker is trying to get at. in terms of this issue, again, look, these are all people i like. these are people i agree with philosophically. i also want to do a good deal for the american taxpayer, including 98% of them. if we can take care of their issue -- i think we'll win the debate. i think they agree with us fundamentally that increases in taxes on anybody cost jobs. that's not good. but as long as it's owe their head their taxes might go up, i think they don't really have time to focus on that debate. again, i just think we ought to take that off. we agree with the president on that. but i respect the speaker. i support the speaker. >> we'll watch how this plays out. >>> joining me is democratic, barbara boxer wrote in politico today. we're looking there at a picture of, senator, of tip o'neill and reagan signing the bill. >> yes. >> on social security reform. you spoke about an earlier issue in your piece today about how they got t
MSNBC
Nov 28, 2012 11:00am PST
deficit. it's well funded for decades ahead but if you look at medicare, here's what the president has to say about that. the president says look at the budget i originally submitted to congress and you will see i have put in excruciating detail cuts to the medicare program that i think we can afford so the president has put that forward. there are those in his party to his left who would like to push back on that. but what we have missing from this discussion right now i think is that same level of specificity coming from the republican side on any of the cuts that they have talked about. i mean, that the nuts and bolts of a negotiation over budget deal so, yes, you have laid out this sort of landscape of the politics and where the cuts would come from and in particular the fact that the administration put forward medicare reforms but what we don't see from the other side is specificity on revenues. the republicans say, yes, we need more revenues but they're not willing to exactly spell out what that means and that's missing from their side of the discussion. >> let's move to the hot
FOX Business
Nov 21, 2012 8:00pm EST
that much about the deficit. they certainly didn't vote as if they did. when it comes to these entitlement programs, no matter what your party is and whether you agree with paul ryan or not, he did put bold initiatives to try to bring these costs down and people rejected it. i think we took a step back in the last election in terms of fixing the programs. >> having said that, a lot of people say i paid into social security and i deserve that. i don't see how medicaid can hold out. i think that's going to collapse a lot sooner than any economist we be forecast. >> there's a good reason why i agree with you. that may be the fastest entitlement program. here is the reason why. not because it's bankrupting washington, because they have been for 15 years. the reason is because it's bankrupting the state. states pay about 40% of the cost and every governor that i talk to, they say that we can't afford this anymore. it is becoming the top of our budget. i agree with you. that could be the program that we fix first. charles: ron paul is really embracing it and see if your coming up next. charles:
FOX News
Nov 20, 2012 10:00pm PST
something about the $16 trillion deficit, i think the bottom is going fall out of the dollar, totally. >> greta: what has been the -- when you asked to be paid in gold, the answer was what? >> they got, quoted opinions from a progressive pragmatic judge says the constitution says states will pay their debts in gold and silver doesn't mean that. they said that hey, they will wire my payment, my payroll, by wages, they'll wire where ever i want them to. i intend to wire where they'll send me gold and silver dollars for pay. >> greta: so that is taken care of? it's got an extra step or they can write you a check and you can go buy gold if you wantedded. you can get your gold, you can get your gold, right? >> yes. i'll end up getting gold and silver coins, yes. >> greta: anyone else agreeing with you? joining suit? anyone else in the legislature? >> there are a few others agreeing with me, but none have come out and been willing to put their, expose themselves as much. >> greta: what do you attribute the decline to? do you blame it on washington? is there anything in particular you identi
FOX News
Nov 27, 2012 6:00am PST
does not address the debt problem. we don't know how much we address the deficit problem by closing loopholes. impasse. martha: we'll see where that goes. stuart, thanks very much. we'll talk to chris van hollen moments away. bob,er is also here today. we'll get to some of that with them. thanks, stuart. bill: some context from how far the revenue ending bush tax cuts would go. during the 2012 fiscal year it costs $9.7 billion a day to run the federal government. the additional revenue stopping bush tax cuts would bring in $82.4 billion. a number that would run the government for 8 1/2 days. senator corker says there is plan on the table for two years. martha: that grand bargain that was so close. we'll see where that is in terms of both sides. bill:. we're just getting started on this tuesday morning. how about this story? oh, my gosh, a toddler seconds away from almost certain death in this video as a car comes barreling around that bend. we'll show you what the rest of what happens here and we'll tell you what ended up happening. bill: there is new violence on the streets of key
MSNBC
Nov 25, 2012 7:00am PST
consumption. also look at the fact that walmart has generated trade deficits. when you look at this -- this blew my mind. this is the size that walmart has in our economy. the walmart trade deficits with china eliminated nearly 200,000 u.s. jobs between '01 and 2006. just walmart's decision, right. just that. so on the one hand, like yes, you've got this issue of how these supply chains are connected. but it feels like how else do you lift yourself out of that sort of thing? it's not just sort of what's good in a moral or a ethical sense. there's an economic what good is going on. >> the giant corporations do live in this bubble. the bubble where it's okay to do what they do mord to make more profits or to give bonuses or whatever. i'm not anti- -- in any sort of way. really just understanding that they believe that the hourly workers are super transient. okay, you want to leave. we'll get somebody else. all these people are happy. these people are are are cogs in that wheel. i think what you're doing and the fact that we're discussing this and adding pressure to them in tha
CNN
Nov 27, 2012 11:00am PST
or have less of a deficit is to let the economy grow. raising tax rates on rich people will not help the economy grow. in fact, it will send the economy in the wrong direction. >> i understand. i know you signed a pledge and you're sticking to that pledge with regard to the people you represent. so let me move on and ask you this, senator. you have indicated you are interested in running for president. tell me this, here, how exactly -- how interested are you and have you taken -- i know you smile because you've been asked it before, but let me ask you as well, have you taken any concrete actions to start lining up support? honest answer, please. >> well, you know, i've said i won't deny that i'm interested. little bit different than i am interested. >> let's read between the lines. what does that mean, sir? >> i want to be part of the national debate. i think my party, the republican party is shrinking. we're in danger of becoming a dinosaur. we're not competitive on the west coast. we're not competitive in new england. we weren't competitive around the great lakes. so we need a new
FOX News
Nov 26, 2012 3:00am PST
billion a year and would pay ian volving credit but it doesn't touch our deficit or balance our budget and the other thing that is important they have to get something in return. we'll put it up on the clinton rates and not touch medicare or medicaid? it is all part of the deal. >> gretchen: once you get people back to the table. it is it like a marriage, marriages don't work when one party said i will not budge on anything. >> brian: i hope my wife is listening. >> steve: we are in the let's make a deal stage. both sides want to appear flexibility when it comes to doing something. we aapparently the president of the united states. the week after thanksgiving nothing is scheduled. but we understand that the top aides are working together to do something. who is leading the charge for the white house? tim geithner. it is interesting, in the beginning, during the confirmation it was revealed he did not file taxes properly and people say is he qualified to be the treasury of the secretary. according to the wall street journal. they work with him and like him. and jack lu who did it last t
ABC
Nov 28, 2012 1:40am PST
, unbelievable, it is up to half a billion dollars. >> probably going to be as large as the deficit by next week. seems like everyone is buying tickets unless sadly you live in one of those states -- tsk, tsk -- those eight states that don't take part in powerball. >> you should move. >> it is un-american. >> these are some of the many called powerball refugees. many live in california. doesn't allow you to buy powerball. they have crossed the state line into arizona to buy tickets. powerball not played in california, nevada, utah, wyoming, mississippi, and alabama. >> imagine, california, huge state. imagine if they can get in the mix, the jackpot would be incredible. ooh. all that powerball jack pot, the topic of our facebook question yesterday. >> we wanted to know what would you do with all that prize money? vanessa said, buy a home where my family lives, donate to alzheimers research, help those who've helped me, help some homeless people, donate to a veterans home, feed hungry children. why don't you try solving world peace, too, vanessa. that is very altruistic of you. kudos. >> joseph, i
FOX News
Nov 23, 2012 6:00am PST
, but the post says, quote, there are a lot of ways that deficit reduction cuts could reduce spending on obama kay. so -- obamacare. so is that where this is headed, what they describe as small tweaks acceptable to both sides? they wouldn't dismantle the law, but they would decrease it? >> i think there's a real chance that democrats will agree to scale back some of the subsidies to insurance on the exchanges. they're going to have to face a real tough choice; do you want to scale back spending on programs that people have been on for decades like social security and medicare, or do you want to scale back the projected spending on a program no one's gotten a check from yet? i think we'll see republicans and democrats agree to reduce the spending in the affordable care act, and there's real opportunity to. people who are going to be making $70,000, more than the median family income in the united states, are eligible for subsidies under the law. it's just too generous to be afforded. patti ann: there's an article in "forbes," very interesting, that says that these health exchanges as liberals h
FOX News
Nov 24, 2012 1:00pm PST
, and want tax hikes and spending cuts to reduce the deficit. and one fourth want spending cuts only. 68%. there are the numbers on your screen. doesn't that number, 68%, mean that it's politically perilous for your party, republicans, to oppose raising taxes on the top 2 or 3%? >> well, no, they -- it's got to be part of the equation and i think that speaker boehner made that clear, but gregg, let me first start by saying i happen to care very much about the 43% inpoll, but it doesn't erase -- it doesn't erase the fact that a majority of them do not pay taxes and it also doesn't erase the fact that most people support tax increases on other people as opposed to themselves, but i think the american people are a little tired of polls. the election is over, talking points should be over, and it requires compromise to solve problems in this town, something that's been lacking for years. by both sides of the aisle. and so, the issues you're talking about in terms of the specifics, whether it's the tax rates or these deductions, it just cannot be across the board. there are unintended consequ
CNN
Nov 23, 2012 9:00am PST
in an opinion piece this week that the president's health care reform must be included in deficit negotiations. >>> before you tell your kids a story of christmas, listen up. the pope is out with a new book, and it debunks a lot of details about jesus' birth. more on that later on this hour. >> here on the help desk we're talking about paying down debt and saving for the future. with me this hour are greg olson and carmen. greg, this question is for you. suzanne told us the more she spends on paying off her debt, the less she has to save. >> how do we balance between saving for the future and paying down some credit card debt? >> you know, those bills come in, and you see that debt, and your eyes just pop out of your head. >> it's an easy question, but i'm very glad she asked it because it's something that most people get wrong. unless you have an introductory rate or you're paying a sfwler 0% introductory rate and have the ability to transfer that in the future, low credit card debt rates are considered 12% right now. show me where you can get an investment that's going to net on an after tax
FOX News
Nov 26, 2012 8:00am PST
are the major drivers of the deficit and debt. listen, if you raise taxes as the administration wants to do now, you don't, in other words, extend the bush-era tax cuts, you raise $824 billion over ten years. now the u.s. government is funded, it takes $1.3 billion a day to fund the u.s. government. so you divide all of that, do the math, carry the knot and basically you qui get about 65 days of funding of the u.s. government just on the taxes. it doesn't get you too far on the big picture. jon: i've heard some democrats saying maybe it won't be such a bad thing to let the country go over the fiscal cliff at lowe's for a short period of time. >> reporter: that is one negotiation ploy, i think you're hearing that as well, you know, if you go past that deadline, then the new congress could come back and retroactively essentially give them -- everyone a tax cut, so those new congressmen and women, and senators will be able to say that they had a tax cut. it's all semantics here. the bottom line is what the president will bring, what house speaker john boehner will be and the closed-door negotiatio
Search Results 0 to 22 of about 23 (some duplicates have been removed)